Fixed Income. Russian Sovereigns - Upcoming Swap Details Revealed
A government decision published today specified some of the key terms of the exchange planned for this year, including which outstanding sovereign Eurobonds are eligible to be swapped. According to the decision, the Russia 18, 28 and 30 may be swapped for new papers at prices not exceeding the market prices. We see more economic sense in swapping the Russia 18 and 28 than the Russia 30 and expect the exchange to take place in September.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
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